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Orange gives African division greater autonomy, mulls IPO

While Telefónica has been defocusing on most of its emerging market subsidiaries (except Brazil), fellow European multinational Orange still has grand plans.  Orange, whose main operations outside Europe are in Africa and the Middle East (AME), has opened a new headquarters for the region in Casablanca Finance City Tower in Morocco, signalling a period of growth and greater independence for the MEA division, and a possible future IPO. Orange now has 125m subscribers in this region and has described AME as its main growth engine. This could encourage it to unlock some of this value via an IPO. The company told Bloomberg that an IPO was “a potential scenario to “provide the group with various options for growth”, but insisted…

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